quesGave money to a person. Now he is making excuses to pay

One of my friend has borrowed 10 lacs last year. For that he gave me his vehicle and cheques/demand note. Now for repayment he is making excuses and not returning money. What should i do?

  • ansYour query is silent as to whether an agreement was executed between you and the borrower prior to the money being lent to him.

    If such an agreement exists then file a recovery suit in the concerned civil court.

    If no such document exists then deposit the cheques in the bank. Once the cheques are dishonoured you may prosecute him for the offence of cheque bounce which carries an imprisonment of up to 2 years.

    A prosecution for cheque bounce needs to be preceded by an absolute compliance of all the legal framework governing it.

  • Send a legal notice for recovery of dues @ Rs. 1999/- only

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  • Disclaimer: The above query and its response is NOT a legal opinion in any way whatsoever as this is based on the information shared by the person posting the query at LawRato.com and has been responded by one of the Recovery Lawyers at LawRato.com to address the specific facts and details. You may post your specific query based on your facts and details to get a response from one of the Lawyers at LawRato.com or book a Detailed Consultation with a Lawyer of your choice to address your query in detail.
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